The results of this paper add significant contributions to the earlier findings that investigated various incentives to CEO's, contingent on future returns. This paper chooses a long time horizon, and revisits the challenges of aligning CEO Compensation with Performance and Shareholders' best...

The paper argues that bond investors (and, implicitly large creditors in general), may not necessarily demonstrate the “Investors' Smartness” that some previous studies attributed to large institutional holders, when it comes to pricing-in for economic shocks likely to occur in future. This...

We employ 19,521 unique firms in 30 transition economies to investigate the relation between the origins of private firms and their financing patterns. In our sample, the private firms are either privatized former state-owned enterprises (SOEs) or ab initio (from the beginning) private firms....